The Fed ought to pare back its purchases of Treasurys to $25B/month in 2013, the St. Louis Fed's...

The Fed ought to pare back its purchases of Treasurys to $25B/month in 2013, the St. Louis Fed's James Bullard tells the WSJ, arguing it would be just as stimulative as the $45B currently being undertaken in Operation Twist. It's pretty frightening this is what passes for hawkish at the Fed these days.